Athletes, bodybuilders, and health conscious people looking to improve their fitness are all major consumers of sports supplements. Most athletes and bodybuilders have considered the intake of sports supplements for the purpose of improving their muscle-building capacities. At the same time, regular members of gyms and other physical training avenues find multiple advantages in the consumption of supplements. It helps in generating body muscles at a faster rate than the conventional intake of proteins and other nutrients.
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General Fitness Consumption Boosts Global Sports Supplements Market
A growing level of awareness regarding fitness and health is currently the largest driver of the global sports supplements market. A large number of the urban populace across the world is attracted towards the idea of working out at the gym, practicing yoga, or performing physically demanding sports, with the goal of becoming healthier than they are. Two major reasons for this are the rapidly growing obesity epidemic, which is causing consumers to take to healthier eating and lifestyles, and the increasing proliferation of sports goods and supplements into the commercial markets.
Wider Product Range Enhances Global Sports Supplements Market Growth Rates
The global sports supplements market is expanding at a CAGR of 9.1% within a forecast period from 2015 to 2021. By the end of this period, this market is expected to cross US$13.5 bn. It was already recorded at US$7.396 bn in 2014.
Consumers Opting for Protein Supplements
Based on products, the global sports supplements market can be segmented into protein products and non-protein products. With a rapidly growing consumption of protein products, this segment had reached a projected US$5.881 bn by the end of 2015. In 2014, it was valued at US$5.398 bn, thus showing a significant increase in sales even after being an already-dominant entity of the global sports supplements market. On the other hand, the segment for non-protein products reached US$2.156 bn 2015, after being valued at US$1.998 bn in 2014. While the growth rate is definitely positive, the smaller market size provides a smaller driving factor to the global sports supplements market’s overall growth rate.
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eCommerce Adds to Global Sports Supplements Market Growth Rate
On the basis of distribution, the global sports supplements market is segmented into online stores, drug stores, health food stores, pharmacies, fitness clubs, and supermarkets. The segment for health food stores has consistently shown a positive rate of growth and is expanding at a CAGR of 8.7% from 2015 to 2021. By the end of 2021, this segment is expected to reach US$4.3 bn in 2021. Meanwhile, the ecommerce segment is expected to show the fastest growth rate, owing to a higher rate of convenience for consumers, along with a growing range of products being made available on this channel. The online store segment is progressing at a 10.1% CAGR from 2015 to 2021, the fastest in the global sports supplements market. The second-fastest segment in this market is fitness clubs, owing to the growing number of health-concerned consumers opting to join fitness clubs.